From: Ada Clapp <

From: Ada Clapp < To: jeffrey E. <[email protected]> CC: Eileen Alexanderson < Subject: RE: Re: Date: Thu, 10 Jul 2014 20:23:43 +0000 They did not mention that. They were thinking that it facilitated gifts of fractional interests in the painting—which I assume Leon and Ronald will not be doing and that it created valuation discounts—which we would already from joint ownership. So, it did not seem so attractive. I will inquire about the sales tax benefit. Ada Clapp Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Email: This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. From: jeffrey E. [[email protected]] Sent: Thursday, July 10, 2014 4:19 PM To: Ada Clapp Subject: Re: avoid sales tax on purchase of interest On Thu, Jul 10, 2014 at 4:17 PM, Ada Clapp a wrote: Funny you should say that—Herrick suggested the same thing but I understood that we were keeping it simple. I will touch base with them to get that started. Ada Clapp Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further EFTA00688028 dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. From: jeffrey E. [mailto:[email protected]] Sent: Thursday, July 10, 2014 4:12 PM To: Ada Clapp; Melanie Spinella Subject: we need to create a He for leon and ronald lauder to own the painting please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00688029